Watsco, Inc. (NYSE:WSO) Stock Has Average Price Target of $373.62

Shares of Watsco, Inc. (NYSE:WSO) have been assigned a consensus rating of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $373.62.

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Watsco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 21st. Morgan Stanley cut their price target on Watsco from $370.00 to $330.00 and set an “equal weight” rating for the company in a report on Monday, October 12th. Stephens reissued an “overweight” rating and set a $485.00 price target on shares of Watsco in a research note on Monday, August 17th. Mizuho decreased their price objective on Watsco from $350.00 to $325.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Finally, DA Davidson lowered their price objective on Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th.

Watsco Trading Up 0.1%

Shares of Watsco stock traded up $0.21 during mid-day trading on Friday, hitting $308.45. 469,709 shares of the stock were exchanged, compared to its average volume of 723,794. Watsco has a twelve month low of $277.34 and a twelve month high of $459.00. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 27.25 and a beta of 1.03. The company has a 50-day simple moving average of $305.98 and a 200 day simple moving average of $362.24.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, October 27th. The construction company reported $3.77 earnings per share for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.33). The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. Watsco had a net margin of 6.31% and a return on equity of 13.97%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.98 EPS. Equities research analysts forecast that Watsco will post 11.70 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 16th were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 116.61%.

Institutional Trading of Watsco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc lifted its holdings in shares of Watsco by 10,290.1% during the 3rd quarter. Aberdeen Group plc now owns 2,294,244 shares of the construction company’s stock worth $694,445,000 after acquiring an additional 2,272,163 shares during the period. Markel Group Inc. grew its holdings in Watsco by 4.2% in the third quarter. Markel Group Inc. now owns 623,010 shares of the construction company’s stock valued at $188,579,000 after purchasing an additional 25,260 shares during the period. Confluence Investment Management LLC purchased a new stake in Watsco in the third quarter valued at approximately $96,991,000. Bank of America Corp DE acquired a new position in Watsco during the second quarter worth approximately $119,291,000. Finally, Caledonia Investments PLC increased its position in Watsco by 12.2% during the third quarter. Caledonia Investments PLC now owns 261,439 shares of the construction company’s stock worth $79,072,000 after purchasing an additional 28,512 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Company Profile

Watsco, Inc. distributes air-conditioning, heating, and refrigeration equipment and related parts and supplies. Its products serve residential and light commercial applications, including systems used in homes and businesses, as well as components and supplies for contractors who install and maintain them. The company sells products from a range of manufacturers through a network of distribution locations and digital platforms. Watsco serves customers in the United States, Canada, Mexico, and parts of Latin America and the Caribbean, supporting the installation, repair, and replacement of HVAC and refrigeration systems.